# In the matter of Sikka Infrastructure Pvt. Ltd. (IB)-930(PB)-2018

> NCLT judgment dated 2019-02-01. Citation: TCN-2019-NCLT-05050. The case involves an application filed under Rule 11 of the NCLT Rules, 2016, seeking the…

- **Court:** NCLT
- **Order date:** 1 Feb 2019
- **Citation:** TCN-2019-NCLT-05050
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sikka-infrastructure-pvt-ltd-ib-930pb-2018-617fd1ff

## Summary

### Background

The case involves an application filed under Rule 11 of the NCLT Rules, 2016, seeking the disposal of Company Petition No. (IB)-930(PB)/2018 and the closure of the Corporate Insolvency Resolution Process (CIRP) against Sikka Infrastructure Pvt. Ltd., the Corporate Debtor. The Tribunal had admitted Company Petition No. (IB)930(PB)/2018 on 23.01.2019, initiating the CIRP. The application is supported by para 52 of the Supreme Court's judgment in Swiss Ribbons Pvt. Ltd. & Anr. v. Union of India & Ors., which held that the NCLT can entertain an application under Rule 11 before the constitution of the Committee of Creditors (CoC). The financial creditor stated that the matter has been amicably settled, and the IRP confirmed that fees/expenses have been settled.

## Facts

Raghav Bhardwaj filed a Company Petition No. (IB)-930(PB)/2018 against Sikka Infrastructure Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code. The NCLT admitted the petition on 23.01.2019, initiating the Corporate Insolvency Resolution Process (CIRP) against Sikka Infrastructure Pvt. Ltd. Subsequently, an application was filed under Rule 11 of the NCLT Rules, 2016, seeking the disposal of the Company Petition and the closure of the CIRP. The financial creditor stated that the matter had been amicably settled, and the IRP confirmed the settlement of fees/expenses. The application was supported by para 52 of the Supreme Court's judgment in Swiss Ribbons Pvt. Ltd. & Anr. v. Union of India & Ors., which held that the NCLT can entertain an

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## Issues and analysis

### Issue 1: Whether the National Company Law Tribunal (NCLT) can entertain an application under Rule 11 of the …

**Ratio:** The Supreme Court in Swiss Ribbons Pvt. Ltd. & Anr. v. Union of India & Ors. held

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**Reasoning:** The Tribunal relied on the Supreme Court's judgment in Swiss Ribbons Pvt. Ltd. &

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**Interpretation:** The interpretation is that the NCLT's power to entertain an application for

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**Application:** In this case, the financial creditor and the Corporate Debtor had reached an

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## Parties

- **Judges:** M. M. K…; DEEPTI M…
- **Appellants:** Raghav Bh…
- **Respondents:** Sikka Infrastructu…

## Timeline

- **2018-01-01 — Company Petiti…**: Company Petition No.…
- **2019-01-23 — Petition Ad…**: Tribunal admitted Company Petition No. (IB)930(PB)/2018 and initiated the Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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